Bank of Maldives (BML) has reported a profit after tax of USD24 million in the third quarter of 2022.
The operating profit during the third quarter of 2022 amounted to USD45 million which is a 17% increase compared to the previous quarter, as per the Quarterly Financial Report. The national bank stated the results were achieved due to growth in all core business areas and maintaining a sound loan portfolio. BML stated capital and liquidity ratios remain solid and well above regulatory requirements, adding that the bank also expects to end the year with a positive result.
The Chief Executive Officer (CEO)of BML Karl Stumke said that with growth in all core business areas the bank has achieved strong financial results this quarter. He said the bank will continue to make efforts to improve the quality of customer service and remain the bank of choice in the Maldives.
As part of its monthly activities to mark its 40th anniversary, BML has announced the setting up of an oncology ward at the Indira Gandhi Memorial Hospital (IGMH), the development of the National Museum, and a sports scholarship programme.